Biotech

  • Wellteq (CSE:WTEQ), Garmin (NASDAQ:GRMN) and Singapore health and fitness leader UFIT, integrate for hybrid employee health and wellness solution

  • This comprehensive health and wellness experience offers market leading support to employees returning to an office working environment by integrating onsite and virtual fitness classes, Garmin ® wearable data into digital health coaching, gamification, rewards and health challenges through the Wellteq digital wellness platform.

  • This three-way proposition has commenced in Singapore and been validated with its first corporate customer, with plans to expand the offering throughout Asia Pacific and other territories.

WellteQ Digital Health Inc. (CSE: WTEQ), (the "Company" or Wellteq"), is pleased to announce the Company has launched a comprehensive health and wellness solution in cooperation with Garmin International, Inc., a unit of Garmin (NASDAQ:GRMN) and Singapore health and fitness leader UFIT.

As employers in a growing number of countries are welcoming their employees back to office environments, they can now take innovative approaches to helping protect the health of their staff with a range of individual wellbeing and organizational benefits. The combined services of Wellteq's employee wellness platform, Garmin wearables and UFIT's virtual and in-person health and fitness services - including group classes and 1:1 training sessions - caters to almost all employee wellness preferences and needs. Supporting the health and wellbeing of employees has never been more important as we return to a new normalcy and start to recover from the COVID-19 pandemic.

Wellteq CEO, Scott Montgomery, stated, "Corporate wellness has long been offered in silos, but we're now able to integrate analog fitness services with Wellteq's digital wellness platform and Garmin wearables for a hybrid solution that meets the needs of everyone. Some people prefer exercise in a group setting for motivation, while others prefer to exercise at home for privacy. However, almost everyone wants insights based on data from their wearable. Garmin wearables are renowned for their best-in-class quality hardware and data. Wellteq is delighted to integrate its platform with Garmin and UFIT for a truly holistic offering. Thanks to Wellteq's privacy settings, we can share anonymized, data-driven insights to our client administrator and optimize the offering for client employees. It is a win-win for everyone. We are extremely excited at the prospects this combined platform offers across the region and internationally."

"We are excited about the expansion of Wellteq's platform to incorporate more Garmin wearable data via integration of the Health API, from activity details, steps, sleep, heart rate and stress," said Karthik Jayaseelan, Garmin's South East Asia & India Sales Manager. "This new platform will help employees manage their wellbeing and track their personal progress through training sessions."

UFIT CEO Will Skinner stated, "We are enormously excited to have launched this groundbreaking corporate initiative, especially during a time with so many ‘unknowns'. Throughout the whole process, it was essential that we stayed true to our vision of housing the world's most vibrant health and fitness community, and via our integrated approach combining: Wellteq's 24/7 connectivity, Garmin's supreme health data, and our gym facility and community management experience, we have been able to build a holistic program that is now thriving in the ever-adjusting office environment we see today."

About WellteQ Digital Health Inc.

WellteQ Digital Health Inc. is a leading provider of corporate wellness solutions developed to provide data-driven personalized health and wellness coaching to engage its users in healthier behaviours. As an enterprise (business-to-business) model, Wellteq currently has two main sectors of customers: employers and insurance companies. Wellteq has secured a large multinational portfolio of customers, including UBS, DBS and Bupa Insurance, and reseller partners, like Willis Towers Watson, Advanced Human Imaging and Garmin. Wellteq is developing its newly acquired Internet of Medical Things (IoMT) platform for virtual care applications which will extend the Wellteq continuum of care from preventative wellness through to virtual healthcare.

About UFIT

UFIT is a team of over 100 full time expert coaches, clinicians and trainers working across its three core pillars of fitness, health and sports. Over 12 years of operation UFIT has refined its integrated approach at the cutting edge of the B2C market in Asia. UFIT is now bringing their unique approach to the corporate wellness market, holding international contracts with the likes of Linkedin, Grab, Spotify and Autodesk.

About Garmin Health.

Garmin Health provides custom enterprise business solutions that leverage Garmin's extensive wearable portfolio and high-quality sensor data for applications in the corporate wellness, population health, and patient monitoring markets. As part of a global company that designs, manufactures and ships products worldwide, Garmin Health supports its customers' commerce and logistics needs, allowing enterprises to scale with a single, trusted partner. For more information, visit garmin.com/health , email media.relations@garmin.com , or connect with us at linkedin.com/garmin , twitter.com/garminnews , instagram.com/garminwellness or facebook.com/garmin .

Wellteq Investor Contact:

Glen Akselrod
Bristol Investor Relations
E: glen@bristolir.com
T: (905) 326-1888

Cautionary Note Regarding Forward-Looking Statements:

This news release contains information or statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Wellteq, and includes statements about, among other things, future developments and the future operations, strengths and strategies of Wellteq. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.

The forward-looking statements made in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for Wellteq's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.

The forward-looking information contained in this news release represents the expectations of Wellteq as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Wellteq undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The CSE has neither approved nor disapproved the contents of this news release.


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WellteQ Digital Health

WellteQ Digital Health

Overview

In 2020, the COVID-19 global pandemic shook traditional healthcare structures on a worldwide level. Not only did healthcare institutions need integrated systems to manage the influx of patients and personalized information, but companies needed to keep track of the wellness of their teams as large numbers of employees switched to remote work environments.

In this increasingly digital age, the sphere of telemedicine helped to not only revolutionize healthcare navigation but our perception of wellness management. Telemedicine has proven that the world could use innovative digital technologies to not only manage health complications but potentially proactively prevent them. As the global healthcare market is forecasted to grow to nearly US$11.9 trillion by 2022, investing in wellness technology today is investing in the healthcare of tomorrow.

WellteQ Digital Health (CSE:WTEQ) (OTCQB:WTEQF) is a digitally driven health and wellness company aiding the transition from old school healthcare navigation to a more personalized data-driven patient experience. Through data capture, artificial intelligence and analytics solutions, the company seeks to help people take control of their own wellness and overcome accessibility issues around health.

WellteQ customers currently include employers and insurance companies. In December 2020, Singapore reported stress alone can cost companies an estimated US$3.1 billion per year. To prevent such costs and ensure employee success, companies and insurers are making employee health and stress management major priorities for corporate wellness programs.

WellteQ's philosophy emphasizes rethinking wellness through preventative and proactive solutions instead of focusing on the reactionary treatment of health. In 2017, WellteQ partnered with Garmin to receive biometrics from Garmin's wearable biotech and incorporate that data into its advanced wellness portal and analytic solutions. Future generations of this technology combination are expected to support more health and wellness programming.

Operating out of one of the densest population zones in the world, the company also intends on expanding its APAC user base to larger worldwide markets. The completely digitally driven model means unlimited scalability and international localization. Likewise, WellteQ has designed its program to be a multifaceted digital solution that impacts every aspect of healthcare, including mental, behavioral and physiological health.

The company has plans to leverage the positive trends in telemedicine and upgrade its programming for a more unified user experience. The company has plans to upgrade their accessible API architecture to handle more data and integrated device connectivity. This optimization could allow algorithms to create a complete picture of health on an ongoing basis.

The growing WellteQ team consists of passionate professionals dedicated to innovating global health and telemedicine. With experience in commercial, medical and software engineering fields, the diverse team brings world-class expertise that has provided the foundation for its technical growth and economic success.

WellteQ Digital Health's Company Highlights

  • WellteQ is a digitally driven health and wellness company focused on providing users with programs that help them take back control of their health and engage in proactive and preventative wellness measures.
  • The employee wellness app is a software and hardware hybrid that incorporates an intuitive wellness portal with innovative wearables like Garmin, Apple Watch and FitBit.
  • Historically, WellteQ customers have been employers and insurance companies in Asia Pacific markets. The company has significant plans for global expansion with current operations in over 30 countries and counting.
  • WellteQ has partnered with tech giants like Garmin, Myfiziq, i-Screen, Savonix and Doctor Anywhere to create a fully integrated platform that helps track, assess and provide AI-driven analytics for its users and their employers and insurers.
  • Plans for 2021 and 2022 include expanding across the continuum of personalized care with added functions like chronic condition management.
  • Wellteq has signed a perpetual license agreement for sleep chronotype assessments and education content from one of Asia Pacific's leading sleep technology companies.
  • Dr. Peter W. Vaughan, CM, CD, MA, MD, MPH, ICD.D, Chairman of the Board of Directors at WellteQ Digital Health Inc. has been appointed to the Order of Canada.

WellteQ Employee Wellness App

The WellteQ specialized wellness software uses data sources inside the app and from wearable tech to create personalized profiles that coach users through an algorithm for risk-assessment and supportive lifestyle behaviors. This software-hardware hybrid for healthcare management has helped to address the high-demand for personalized and value-added digital health management which has proven to increase employee engagement by 40 percent.

Unlike traditional medical devices, this platform is personalized and customizable to specific wellness goals, and it is available in 13 languages and over 30 countries. WellteQ is committed to scalability in the global corporate wellness industry with plans for further expansion.

In partnership with reputable digital innovation companies, the WellteQ software app employs intelligent digital pathology that tracks key biomarkers for risk assessment, revolutionary 3D body imaging, neurocognitive assessment and virtual consultation functions. Along with additional gamified challenges, this employee smartphone app creates a unified user experience that is accessible on all mobile devices.

In 2021, the company plans on expanding its continuum of personalized care with the introduction of more premium care focused offerings. WellteQ+ will provide chronic condition management and virtual care functions that track chronic illness progression and treatment and monitor patient-specific data, including vitals.

WellteQ Digital Health's Management Team

Scott Montgomery - CEO/ Director/Co-Founder

Scott has performed at the highest level as an athlete, trainer and as a corporate leader for over 17 years having co-built and sold Onsite Health Solutions in 2012 (one of Australia & New Zealand's largest workplace wellness exits). Prior to Onsite, Scott was a Rehabilitation Case Manager with ACC New Zealand, the compulsory personal injury insurance scheme for all of New Zealand. Scott holds a bachelor's degree from the University of Otago.

Jeames Gillett - COO

Jeames brings 15 years of experience within the corporate wellness, insurance and population health sector. Jeames served as National Operations Manager for Onsite Health Solutions. Jeames also served as the National Service Delivery Manager for Vitality Works, a leading provider of Workplace Health Services across Australia & New Zealand. Jeames holds a Bachelor's degree from Stanford University in Exercise Physiology.

Andrew Kerekes - CPO

Andrew has over 20 years of experience in strategy, product design and delivery, sales and transformation. Andrew has held senior leadership positions within GE Capital, the financial services division of General Electric, LiveRamp and EVO, a privately held analytics platform for member health engagement and risk underwriting. Andrew holds a Bachelor's degree from La Trobe University in Psychology & Philosophy.

Daniel Starbuck - CTO

Daniel has over 15 years of experience building scalable enterprise business applications for domestic and international clients from start-ups to Fortune 500 companies. Daniel co-founded CBDS Health (now merged with WellteQ) in 2017.

Olly Bridge - Chief Growth Officer

Mr. Bridge comes to Wellteq from Medibank, Australia's largest health insurer, where he led the design and deployment of both their corporate and retail policy holder digital health and wellness programs. The Medibank digital health program has been deployed to 3.5 million policy holders. Prior to Medibank, Mr. Bridge led the global sales development for Global Corporate Challenge, which when acquired by Virgin Pulse in 2015, was operating in 185 countries around the world. Virgin Pulse are currently the world's largest corporate wellness provider.

Dr. Peter Vaughan - Chairman

Dr. Peter W. Vaughan is Board Chair of Canada Health Infoway and Chair of the Finance and Audit Committee, Treasurer, and Board member of the Supply Chain Advancement Network for Health (SCAN-H) at the University of Windsor Odette School of Business. Dr. Vaughan is former Deputy Minister of Health and Wellness, Province of Nova Scotia, former CEO of South Shore District Health Authority, former President, WebMD Canada, former CEO of the Canadian Medical Association, and former member the Government of Canada's Health/Bioscience Economic Strategy.

Dr Peter Vaughan, has been appointed to the Order of Canada by the Governor General of Canada. The Governor General cited the appointment of Dr Vaughan "for his contributions to Canada's health care system, and for his pioneering leadership in the establishment and advancement of digital health".

Dr Vaughan, who's career spans medicine, public healthcare, academia and multiple Board and Executive positions is recognized for his tenacious evangelism of healthcare modernization. Dr Vaughan was appointed Chairman of the Board of Directors for Wellteq just prior to the Company's listing on the Canadian Securities Exchange (CSE) in March 2021 and continues to lead the Company's execution to modernize healthcare delivery through the deployment of the Wellteq platform.

Brian Leeners - Co Founder/Director

Brian has been a technology entrepreneur since 1997. In 2007, he founded his first Internet of Things (IoT) company developing sensor and automation solutions for customers including Lowes, Control4, Steelcase and Schneider Electric. Recognizing the opportunity for the IoT in healthcare, Brian co-founded CBDS Health (now merged with WellteQ) in 2017. Brian's boutique venture capital and merchant banking firm has been responsible for +$75 million+ in venture financing.

Jacqueline Yee - Independent Director

Jacqueline has a global track record in mergers and acquisitions and structured finance. She is Managing Director at Macallan Capital, Non Executive Director of Mustang Energy Plc and Treasurer of Kidney Dialysis Foundation in Singapore. Former Financial Working Group Member of the Brain Cancer Foundation in Australia. Previously, signatory Director of BNP Paribas-Fortis United Kingdom and Netherlands and investment banker at Société Générale. Multilingual, a Chartered Accountant in Australia & New Zealand and summa cum laude graduate with Distinction award jointly conferred by the University of Amsterdam Graduate Business School and Graduate Faculty of Economics & Econometrics.

Andrea Johnson - Director

Andrea Johnson is a partner with Dentons Canada LLP and a member of its Canada region board of directors. Her practice focuses on corporate and securities law, with an emphasis on technology and emerging growth companies. Andrea has extensive experience in IPOs, corporate finance, M&A, venture capital and private equity, across sectors including fintech, software, telecommunications and health and life sciences. She has completed the Directors Education Program and is on the Ottawa chapter executive of the Institute for Corporate Directors (ICD). Andrea has received many rankings including from The Best Lawyers in Canada, Lexpert, Acritas, Chambers FinTech and The Legal 500 Canada.

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